Myers Industries, Inc. $MYE Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. boosted its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 10.8% in the 1st quarter, Holdings Channel reports. The fund owned 176,760 shares of the industrial products company’s stock after buying an additional 17,200 shares during the period. Hillsdale Investment Management Inc.’s holdings in Myers Industries were worth $3,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Myers Industries by 372.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,498 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Myers Industries in the 4th quarter valued at $38,000. Quarry LP acquired a new position in shares of Myers Industries in the 3rd quarter valued at $48,000. Aquatic Capital Management LLC purchased a new stake in Myers Industries during the third quarter worth $61,000. Finally, Clearstead Advisors LLC boosted its holdings in Myers Industries by 56.0% during the fourth quarter. Clearstead Advisors LLC now owns 3,438 shares of the industrial products company’s stock worth $64,000 after buying an additional 1,234 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Myers Industries Trading Down 0.5%

Shares of NYSE:MYE opened at $30.69 on Thursday. Myers Industries, Inc. has a 1 year low of $12.96 and a 1 year high of $35.75. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 43.84 and a beta of 0.88. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.65 and a quick ratio of 1.29. The business’s 50 day moving average price is $26.43 and its 200-day moving average price is $22.91.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. The firm had revenue of $164.58 million for the quarter, compared to analysts’ expectations of $209.30 million. Myers Industries had a net margin of 3.36% and a return on equity of 17.23%.

Myers Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were given a $0.135 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.54 annualized dividend and a dividend yield of 1.8%. Myers Industries’s dividend payout ratio (DPR) is 77.14%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings cut shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. KeyCorp increased their target price on shares of Myers Industries from $26.00 to $37.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen cut Myers Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.00.

Myers Industries Company Profile

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.